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Business News England
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Welcome to the DPC round up of the latest business news for our clients for 10th March 2025
Please contact us if you want to talk with out team of experienced Stoke-on-Trent accountants about how these updates affect your business. We are here to support you!
THIS WEEK…
News reported last week said that the Chancellor has put together draft plans for spending cuts to welfare and other government departments.
At the time of the 2024 Autumn Budget, the Office for Budget Responsibility (OBR) said that there was a £9.9 billion buffer available against the Chancellor’s own self-imposed borrowing rules.
However, the OBR’s spring forecast seems likely to show that this buffer has disappeared due to the events of the last few months, including trade tariffs, the war in Ukraine and higher inflation and borrowing costs.
It could be argued that an alternative strategy would be for the Chancellor to amend her borrowing rules. However, to do so would risk losing credibility with the financial markets and the Chancellor has described her rules as “non-negotiable.” So, it seems that spending cuts are now likely, mainly to welfare payments.
The Public Procurement Act 2023, originally set for implementation on 28 October 2024, has now officially come into force. This legislation introduces new rules designed to make it easier for smaller businesses to compete for and win public sector contracts.
The Act establishes clear rules that all public bodies must follow when buying goods and services. One of the most significant updates is the introduction of a Central Digital Platform. This is now available and allows businesses to register their details and access all potential bidding opportunities in one place.
The Future of Roads Minister, Lillian Greenwood, has confirmed that the plug-in van grant will be extended for another year.
The plug-in grant means that businesses can obtain grants of up to £2,500 when buying an eligible small van up to 2.5 tonnes and up to £5,000 for an eligible larger van up to 4.25 tonnes.
The grant is made available through the dealer or manufacturer as a discount on the purchase price when the van is purchased. So, there is no need for each purchaser having to go through a grant application themselves.
The government is also removing the requirement for additional training that is currently required for zero emission vans but not petrol or diesel ones.
A new deal for GPs has been agreed between the government and the British Medical Association (BMA).
Proposed reforms that were accepted by the BMA include an overall funding uplift of £889 million for the 2025/26 GMS contract. This represents a 7.2% boost to the contract, which is higher than the increase to the NHS budget as a whole. However, the BMA’s acceptance of the funding uplift was given on the proviso that the government commits to renegotiating a completely new national contract within this parliament. They are looking for confirmation of this in writing by mid March 2025.
The UK government has announced a major funding boost for rural areas, with up to £38 million allocated to support infrastructure, essential services, and business growth in the countryside. The aim is that the funding will help to create jobs and drive economic growth while improving quality of life for rural communities.
A significant portion of this investment, up to £33 million, will be directed to the Rural England Prosperity Fund (REPF). The fund’s goal is to strengthen the rural economy and is designed to improve local infrastructure and essential services while supporting rural businesses to expand and diversify.
Businesses and community organisations in rural areas will be able to apply for funding for projects that help stimulate economic growth and enhance local facilities.
The government has announced its plans for new policies that it expects will make farming more profitable.
Steve Reed, the Secretary of State for Environment, Food and Rural Affairs, said: “The underlying problem is that farmers do not make enough money for the hard work and commitment they put in.” He went on to say that his focus “is on ensuring farming becomes more profitable.”
The announcement is positive news for farmers, and we look forward to seeing whether this translates to an uplift in profitability for our farmers!
A tragic incident at the Tamworth Snowdome has highlighted the critical need for businesses to properly assess and manage health and safety risks.
Twelve-year-old Louis Watkiss tragically lost his life during a tobogganing birthday party at the indoor skiing venue on 24 September 2021. While descending the main ski slope, his toboggan collided with a staff member conducting a slope walk. The impact caused the staff member to fall backward onto Louis, resulting in fatal head injuries.
Following an investigation by the Health and Safety Executive (HSE), Snowdome Limited was found to have failed in its duty to ensure customer safety and was fined £100,000 for breaching health and safety laws.
The National Cyber Security Centre have published new guidance for organisations on network security fundamentals. Using networks has become fundamental to many businesses, ensuring they continue to operate and stay secure.
The guidance provides an overview in each area as well as further reading that can help you ensure that your network is as secure as possible.
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